M&A REPORT -- New Era of Consolidation

When Quebecor merged with World Color, eyes bulged as if witnessing the finale of a fireworks display. An omen, perhaps...

A large sigh of relief was let loose when January 1, 2000, passed without computer chips causing worldwide havoc. But the economy's circuitry began to smoke and fizzle in the fall of that year. The industry followed suit as 2001 turned ledger books red. Dotcoms disappeared, leaving behind only customer lists to be scavenged. A national recession keyed massive layoffs and plant closings. A number of consolidator models crumbled into bankruptcy, while others readjusted their focus.